Denny's Corp (DENN) Misses Q2 EPS by 4c, provides outlook

Denny's Corp (NASDAQ: DENN) reported Q2 EPS of $0.13, $0.04 worse than the analyst estimate of $0.17. Revenue for the quarter came in at $115.9 million versus the consensus estimate of $118.97 million.

Business Outlook

The following full year 2024 expectations reflect management's expectations that the current consumer and economic environment will not change materially.

Denny's domestic system-wide same-restaurant sales** between (1%) and 1% (vs. between 0% and 3%).
Consolidated restaurant openings of 30 to 40 (vs. 40 to 50), including 12 to 16 new Keke's restaurants, with a consolidated net decline of 20 to 30 (vs. 10 to 20).
Commodity inflation between 0% and 2%.
Labor inflation between 3% and 4% (vs. between 4% and 5%).
Total general and administrative expenses between $82 million and $85 million (vs. between $83 million and $86 million), including approximately $11 million (vs. $12 million) related to share-based compensation expense which does not impact Adjusted EBITDA*.
Adjusted EBITDA* between $83 million and $87 million (vs. between $87 million and $91 million).

For earnings history and earnings-related data on Denny's Corp (DENN) click here.

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